Stock market today: Nasdaq, S&P 500 slide as tech lags after Trump backs tariff plans
Published On Feb 24, 2025, 4:04 PM
US stocks experienced a decline as concerns mounted over President Trump's tariff policies against Mexico and Canada. The Dow Jones Industrial Average remained stable, while the S&P 500 dropped by 0.5% and the Nasdaq Composite fell by 1.2%. Investors are particularly focused on Nvidia's upcoming earnings report amidst the potential impact of tariffs on the tech sector. Despite the downtrend in tech stocks, Apple gained slightly following an announcement of a $500 billion investment plan in the US. Reports on consumer spending and inflation figures are also expected this week.
Stock Forecasts
NVDA
Negative
Given the current uncertainty surrounding tariffs and their potential impact on the tech sector, Nvidia's earnings could either bolster investor confidence or exacerbate current apprehensions. The stock is under pressure from both tariff concerns and competition within the AI sector from lower-cost alternatives. Therefore, I predict a negative direction for Nvidia leading up to its earnings report, as investors brace themselves for possible disappointing guidance amidst these challenges.
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